1/OUTBREAK
FILE PHOTO: Traders work on the floor at the New York Stock Exchange in New York, U.S., January 8, 2020. REUTERS/Brendan McDermid
Beijing’s response has been reassuring for many compared to its secretive handling of the 2003 SARS epidemic. And the World Health Organisation says while this is “an emergency in China”, it’s not of international concern yet. Q4 earnings from Netflix underwhelmed Wall Street. But Facebook should post 6.2% earnings growth on Jan. 29, while Apple earnings, due Jan 28, are forecast to have grown 8.7%. Amazon has warned that higher investment spending will dampen earnings-per-share but it sees quarterly revenues up 18.7%.Compare this with expectations for the S&P500 overall - 0.8% earnings decline and 4.4% revenue growth. The FAANGs also have led the U.S.
Of greater interest arguably, is Thursday’s Bank of England meeting - Mark Carney’s last as governor. The question is whether the BoE will join central bank peers in cutting interest rates. Economic growth and inflation took a hit from 3-1/2 years of Brexit uncertainty so a string of dismal data and dovish policymaker comment saw expectations for a cut swiftly build.
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